If marquee names like Ferrari carry out their threat and pull out of the Formula One championship to form a rival series, Singapore will probably not be able to host a leg of the new race just yet.
It is understood that the Republic's five-year deal with F1 commercial rights holder Bernie Ecclestone, which runs out in 2012, has a clause that prohibits this.
Other cities on the 17-race calendar, such as Melbourne, are believed to be bound by similar clauses. Race promoters Singapore GP said the exact contractual terms of the SingTel Singapore Grand Prix are confidential.
But when asked if the Republic could host the rival championship, a source closely involved in last year's race said: "We already have one contract. How many do you want us to sign?"
The source added that the contract's obligations would be fulfilled and there would be no withdrawal.
A breakaway series, if launched, would likely boast stars like McLaren's defending world champion Lewis Hamilton and Ferrari's Kimi Raikkonen, hence luring away the majority of F1's current fan base.
This essentially means a second-tier championship for F1 host venues, spelling trouble for a major event on Singapore's tourism calendar.
The world's first night race drew 40,000 tourists and raked in $168million in tourism receipts. This year's event on Sept27 is safe though.
Still, finding suitable venues for a new series is just one hurdle the eight breakaway teams comprising the Formula One Teams Association (Fota) must negotiate.
Other obstacles include negotiating broadcast deals with television stations, persuading sponsors not to quit and getting the International Automobile Federation (FIA) to sanction their races.
The current chaos started after FIA president Max Mosley, in an effort to rein in teams' astronomical spending, proposed a budget cap of 40million pounds (S$96million) per team from next year.
The eight outfits that comprise Fota - Ferrari, McLaren, Renault, BMW Sauber, Toyota, Brawn GP, Red Bull Racing and Toro Rosso - are against the budget cap.
They dropped a bombshell last Thursday, saying they were commencing preparations to set up a rival series.
They argue that F1 is about constant innovation, and a cap would go against the spirit of the sport. The FIA has said it plans to sue the teams over their attempts to quit.
